Strategic Wealth Partners Ltd. Buys 98 Shares of Genuine Parts (NYSE:GPC)

Strategic Wealth Partners Ltd. increased its stake in shares of Genuine Parts (NYSE:GPC) by 4.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,420 shares of the specialty retailer’s stock after acquiring an additional 98 shares during the quarter. Strategic Wealth Partners Ltd.’s holdings in Genuine Parts were worth $302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of GPC. Norges Bank purchased a new position in Genuine Parts during the 4th quarter worth $206,645,000. Junto Capital Management LP purchased a new position in Genuine Parts during the fourth quarter worth about $94,868,000. Equity Investment Corp bought a new stake in Genuine Parts in the 4th quarter worth about $84,128,000. Alyeska Investment Group L.P. increased its stake in Genuine Parts by 204.7% in the 4th quarter. Alyeska Investment Group L.P. now owns 789,050 shares of the specialty retailer’s stock valued at $92,129,000 after buying an additional 530,057 shares during the last quarter. Finally, Invesco Ltd. lifted its position in shares of Genuine Parts by 18.9% during the 4th quarter. Invesco Ltd. now owns 3,262,229 shares of the specialty retailer’s stock worth $380,898,000 after buying an additional 518,851 shares in the last quarter. 78.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $114.00 target price (down from $133.00) on shares of Genuine Parts in a report on Tuesday, April 1st. StockNews.com downgraded Genuine Parts from a “buy” rating to a “hold” rating in a research note on Saturday, April 26th. Argus upgraded Genuine Parts to a “strong-buy” rating in a research note on Friday, April 25th. Evercore ISI reduced their price target on shares of Genuine Parts from $135.00 to $130.00 and set an “outperform” rating for the company in a research report on Wednesday, April 23rd. Finally, Truist Financial lifted their price objective on shares of Genuine Parts from $133.00 to $137.00 and gave the stock a “buy” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Genuine Parts has a consensus rating of “Moderate Buy” and a consensus price target of $130.86.

Genuine Parts Stock Up 0.4%

GPC stock opened at $129.18 on Tuesday. The stock has a fifty day moving average of $117.96 and a 200-day moving average of $119.87. Genuine Parts has a fifty-two week low of $104.01 and a fifty-two week high of $153.44. The company has a market capitalization of $17.93 billion, a price-to-earnings ratio of 19.97 and a beta of 0.76. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.57 and a current ratio of 1.16.

Genuine Parts (NYSE:GPC) last released its quarterly earnings data on Tuesday, April 22nd. The specialty retailer reported $1.75 EPS for the quarter, beating the consensus estimate of $1.66 by $0.09. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.83 billion. Genuine Parts had a net margin of 3.85% and a return on equity of 25.28%. As a group, equities research analysts predict that Genuine Parts will post 7.9 earnings per share for the current year.

Genuine Parts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Friday, June 6th will be paid a $1.03 dividend. The ex-dividend date is Friday, June 6th. This represents a $4.12 dividend on an annualized basis and a yield of 3.19%. Genuine Parts’s dividend payout ratio is 67.65%.

About Genuine Parts

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.